More Madoff Victims?

From the mailbag:

Pretty sure Ivy has a fund - Ivy Beacon Fund - which was setup wholly for the purpose of investing in Madoff. Amazing a firm that supposedly prides itself on great due diligence has now gotten hit by Amaranth, and now Madoff as well!

Heard anything? Get if off your chest.
Update: We're told Ivy has no exposure whatsoever to Madoff.